St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-02
YESTERDAYS MARKET.
On the Chicago Board Of Trade the
Clique Keeps Grip on
Pork,
And Sends It Up or Down Within Sl.oo
Limit at It's Own Sweet
Will.
Restricted Trading, However, Helped
to Bear the Market to Some
Extent.
transactions in the Financial circles
of Wall Street. q enera1
Quotations.
}pecial to the Globe.

special to the Globe. ~
CHICAGO, ILL.,, March 1.-From long before
)until 1880 o'clock this morning the lower
corridors of the board of trade were crowded
with brokers, with outsiders, with settlng
clerks and with boys and men OF all sorts ana
with all interests discussing the sensation OF
yesterday in the pork pit The day being the
first of the month, and set apart Tor denver
les, the regular session did not begin until an
hour later than usual. That hour was given
over to the dissemination of the Wild
est sort of rumors or TO prognostlcation
equally wild. Over in the big bucketshops'
which frequent the locality, the gossip was
equally as animated. 1t was rumoreo last
night that Murphy, the richest bucketshop
man here, whose partners are Dave Puisifer
and Riley. the booksellers, had laid down.
There was no truth in the report; but there
was a mysterious lot of gossip going about
among the bucketshop men themselves.
Three of the smaller concerns
WENT BROKE
and Murphy is said to have dropped S5O,OOO
His losses here to his local traders were up
ward of SI0O00 but half of this was offset by
winnings made out of country trade which
shorted pork after it got up to Sl6. Puislfer
is said to have had up $4,000 with country
man on n free sell out on $4,000 barrels OF
pork The price went up 81 in less than TWO
days and the bucketshop man got the
countryman's money. There were numerous
lesser incidents. One darkey gambler named
Scott pulled $500 out OF the Imperial when
the price Yesterday was Sl9. Another
named Irwin, whose profits in sight at
that moment were double that sum,
was wiped up an instant later when that
drop from Sle.30to S16.S0 came. There was
so bio crowd in pork at the opening that it
was impossible for the little telegraph boys to
dart in and out, and they can penetrate any
ordinary crowd. For several minutes after
the opening there was no trade al all. sellers
asked SIS and buyers bid SIT. In the first
five minutes there were few trades made,
first at $3.50, then at $17.7O up to $40. The
motive in the pit to-day was apparently to
restore confidence; to settle the price at
above SIS until the world gets accustomed to
it, and then, when that is done and trading IS
active, TO advance it peg or two farther.
THE ROUTINE REPORT,
CHICAGO, March There was repetition
of Yesterdays excitement in the pork pit at
the opening this morning, but during the re-
maiuder of the day trading was limited. Inc
CLIQUE demonstrated that it had complete con-
troll of the market, and whenever the shorts
attempted to cover the price advanced in an
alarmingly quick manner. May pork opened
at all sorts of prices, ST being bid and SIS
asked in different parts of the pit. There
were transactions at $3.50, $3.50, S17.65 and
SIT so within very few minutes. other
hog product was less unsettled. Not so many
orders to sell were on the floor as expected.
1t did not take long to convince traders that
the session was going to be in marked con-
trast to the one of yesterday, but neverthe-
less the big end OF the crowd hung
around the pork pit. From $3.50. at which
price there was sale soon after the opening,
the advance to $40 was quite steady, but
althou 9Th the fluctuation was $l.5O per bar
rel, the excitement incidental thereto was
10Th Yesterday
There was not much pork for sale, and such
shorts as were out were not disposed to pay
present inflated prices. This restricted trad
ing somewhat, and helped bear the market
down from $40 to $3.50. Toward l o'clock
May picked up to $lS.971a, the pit hlling up
with more buyers than there were in it
earlier They soon Withdrew, however, and
% ices reacted to SIS. 671a. On the afternoon
board May opened at $3.50, with fair sale
at $500, fell off to $3.50, and closed at that
point for the day. A number of ''shorts"
made private settlements and withdrew from
the market. Operators in general
were distrustful, and declined to
execute orders. The export clearings
of wheat from the seaboard aggregated 520,-
900, but the shipping inquiry was reported
light until. late in the afternoon, when re-
newed export demand was reported. The re-
ceipts from eleven points were 231 600. The
starting price for May delivery was nc lower
at 1890. A rally to 7s%c occurred. but
owing to reported fine weather the tone be-
came easy and the price fell off steadily to
T71@c, rallied a tritie and closed at 775s077s4c.
Corn ruled easier with light trading and
closed 5s034c lower than yesterday. Oats
were dull and shade easier. Lard closed 10c
per 100 pounds lower and short ribs were IN
changed.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2, March, 721ac, closing at re;
May. 1890, closing at 775a@77s4c; June, 1890,
closing at 7S7Ec; July, S034c closing at S01lc.
May, 3914c, closing at 3S5sc; June, 40Ac,
closing at 39lac; July. 4l1sc, closing at 1890.
Oats-No. 2, March, 24c, closing at 1850;
May, 2S56c, closing at 2S7ac; June, 2SKc,
closing at 2s54c. Mess pork, per barrel,
March, S172O, closing at $lS.15; May. $3.50,
closing at $3.50; June, $3.50, closing at
SlS.45. Lard per 100 pounds-March, $707%,
closing at 1927: May, $7.221@, closing a,
S7.15; June, S7.271a, closing at S7.20. Short
ribs per 100 pounds, March, $751;,
closing at $40; May, $7.T5, closing at
$3.50; June, $3.50, closing at $3.50
and unchanged. Whear-No. 2 spring, 72@
75c; No. spring, 70@T1c; No. red, 7S@7S1ac.
Corn-No. 2, 331aQD351ac. OatS-NO. 2, 1881 &c;
Rye-No. 2, 53c. Barley-No. 2, 5G@52c
Flax seed-No. i, S1.OS. Prime timothy seed
Sl.S1. Mess pork. per Dbl, $1S.15@lS.3711a. Lard,
per 1oo iDo, O,.o~I2esi.oo. oHorI ripS, SlueS'
loose, ST.70@775; dry sailed shoulders, boxed
S6@6.25; short clear sides, boxed, SS.20@s.25
Whisky, dIstillers' finished goods, per gal
Sl.1S. Sugars, cut loaf, 614@6Yc: granu.
lated, &c; standard "a" 51a157sc. Receipts
Flour, $4,000 bbls; wheat, 10000 blu: corn
$4,000 bu; oats, 10000 blu; rye. 5000 bu;
barley, $4,000 bu. Shipments-Fiour, q 900
bbls; wheat, 1884, 900 bu; corn, SO, 900 bu; oats
$4,000 blu; rye, 1000 bu; barley, $4,000 bu
On the produce exchange to-day the butter
market was firm; creamery, 23@30c per ID
dairy, 227a@26c per d. Eggs, 151a@1Sc pei
doZ.